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|Subject: Lump Sum vs Pension Annuity||Date: 3/21/2011 11:42 AM|
|Author: RoadScholar5||Number: 68665 of 74532|
I did 20 years of hard time with my previous employer.
They froze the pension plan in 2006, nevertheless, I am still eligible for a pension based on all my service up to that point.
I am eligible to begin receiving a reduced monthly amount at age 55, or wait and receive the full monthly benefit at age 65.
Additionally, there is an option to receive a partial lump sum in lieu of monthly payments.
I have not yet contacted the company to look into the lump sum option.
What are the calculations and considerations given to taking a lump sum vs. monthly benefit?
Thank you in advance, RS
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